Term Paper

MARKETING MANAGEMENT (MAR 3023) SEMESTER PROJECT – Strategic Marketing Plan

PROFESSOR ANDREW P. YAP Summer B 2018

Project Description – Your task for the semester project is to create a Strategic Marketing Plan for a New-to-the-World product or service that significantly fulfills a specific customer need and will result in substantial growth for a three to five year period. The budget is $300,000. The product or service you chose for your project must be realistic and have a benefit that will allow the creation of value and profitability for both your target market and your newly developed company. The $300,000 investment must pay a cumulative net ROI before taxes of 100% by the end of year 5. This means your company’s total net profit before taxes by the end of year 5 must be a minimum of $300,000 which would include executive and manager salaries as a fixed cost allocation. Report -The Strategic Marketing Plan must be between 7-10 pages (single-spaced) which does not include the cover page and the appendix. Also required is a 10 slide PPT presentation. Projects will be graded on accurate description and alignment of the company’s external environment with its internal strengths and weaknesses along with full formulation and implementation of the marketing plan for the organization. Due Date - All reports and PPTs must be uploaded in Canvas by 7/27/18 by 11pm. Grading -This project is worth 25% of the total course grade

The following is a list and description of important sections to include in the Strategic Marketing Plan . . .

Section 1: Executive Summary This is perhaps the single most important element of the plan. With a maximum of two pages, write an Executive Summary that “sells” the document to readers through clarity and brevity.

Section 2: Company and Product or Service Description Describe your newly formed company and create a hierarchical structure of the company that would include the positions that each group member holds (if you are working with a group) in the organization. For the product or service, describe in detail the new product or service your company is creating keeping in mind that it is imperative that your product or service offering fulfills the needs of a specific market segment of the population.

Section 3: Strategic Plan and Focus This section sets the strategic direction for the entire organization. It consists of (1) the Mission Statement, (2) Goals – both financial and non-financial, and (3) the company’s Core Competency and Sustainable Competitive Advantage.

Section 4: Situation Analysis This section is a snapshot to answer the questions, “Where are we now?” It consists of (1) the SWOT Analysis, (2) the Industry Analysis, (3) the Competitor Analysis, (4) the Company Analysis, and (5) the Customer Analysis. This section is critical as it will help to lay a strong foundation for your Strategic Marketing Plan.

Section 5: Product-Market Focus This section describes the five-year marketing and project objectives for the organization. It consists of (1) Marketing and Product Objectives, (2) Target Markets, (3) Points of Difference, and (4) Positioning. Use this section to describe your target markets and marketing strategy.

Section 6: Marketing Program This section describes the four marketing mix elements and actions that plan to be implemented by the company. This includes (1) the Product Strategy, (2) Price Strategy, (3) Promotion Strategy, and (4) Distribution Strategy.

Section 7: Financial Data and Projections The marketing mix decisions covered in the marketing program have both revenue and expense effects. These are summarized in this section of the marketing plan. The categories will include (1) Five-Year Projections. Remember the budget is $300,000. The product or service you chose for your project must be realistic and have a benefit that will allow the creation of value and profitability for both your target market and your newly developed company. The $300,000 investment must pay a cumulative net ROI of 100% by the end of year 5

Section 8: Implementation Plan

This section shows how the company will turn plans into results. Set deadlines and assign responsibilities for the tactical marketing decisions that are needed to enter the new market.

Section 9: Evaluation and Control Describe, in this section, a contingency plan for alternative actions, depending on how successful the entry into a new market turns out to be.

Section 10: Bibliography All reference material and websites used to complete the Strategic Marketing Plan must be included in this section.

----------------------------------------------------------- Note: A copy of a sample marketing plan has been included on Canvas for you to download and use as a guide to effectively develop the Marketing Plan for the organization.

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Group Member Evaluation

Your Name Group Number Group Member Evaluation – List the names of all group members (EXCEPT YOURSELF) in the spaces below. Next, allocate 100 total points among the other group members based on your perception of their contributions. For example, if you had 6 members in your group, including yourself, you would be evaluating 5 people. If everyone contributed equally to the case analyses and Marketplace simulation, you would give each member 20 points. If people did not contribute equally to the project, you may change your allocations accordingly.

Student Name: _____________________________ ___________ points

Student Name: _____________________________ ___________ points

Student Name: _____________________________ ___________ points

Student Name: _____________________________ ___________ points

Student Name: _____________________________ ___________ points

Total points must equal 100 pts. If appropriate, please specify the reason(s) why your point allocations to a particular student or students is significantly lower than the other members of the group in the space provided below.